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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
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